Another Clone Surfaces, FCA Flags SpectraFX Investment Team

This Friday, the Financial Conduct Authority (FCA) introduced on its web site that it has, but once more, flagged additional entities as suspicious, warning that they may very well be concerned in some form of rip-off. One of these entities is SpectraFX Investment Team.

According to the warning from the British regulator, Spectra FX Investments Team is a clone agency which has copied the main points of an FCA-authorised agency. The reliable entity has a really comparable title – Spectra FX options LLP, which the clone agency is claiming to be related to.

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As a end result, the UK watchdog has labelled SpectraFX Investment Team as a clone agency. Clone companies, because the title suggests, clone the main points of reliable corporations with a purpose to trick shoppers into believing they’re reliable.

This entity, specifically, has chosen a reputation that might lead individuals to imagine that it’s linked with the reliable agency. However, the FCA highlights that Spectra FX Solutions LLP has nothing to do with the unauthorised entity.

FCA Reveals Details of the Clone Firm to Protect Consumers

The clone agency, Spectra FX Investments Team, operates through its web site https://spectra-fx.com. However, it seems that this web site is now not operational, or at the very least, this creator can now not entry it.

Furthermore, the clone agency claims to primarily based at 76 Blenheim Road, Cheadle Hulme, Cheadle, Cheshire, SK8 7BA, United Kingdom and has social media accounts on each Instagram and Facebook.

The reliable firm, Spectra FX Solutions LLP, is authorised to supply, promote or promote companies or merchandise within the UK. As set out by the regulator, its particulars are as follows:

“Be conscious that the scammers might give out different false particulars or combine these with some right particulars of the registered agency,” the FCA warned within the assertion.

FCA Flags K2 Wall Street

Today, the monetary regulator additionally blacklisted one other agency which it believes to be suspicious – K2 Wall Street, a supplier of foreign exchange and cryptocurrency buying and selling.

According to the warning, the entity shouldn’t be authorised to be working within the United Kingdom, nevertheless, it’s doing so anyway. Furthermore, K2 Wall Street claims to be regulated and licensed within the UK, which, when contemplating the FCA’s warning immediately, is a false assertion.

Because of this, residents of Britain ought to keep away from coping with this firm because it has the traits of a rip-off.

David is the founder of DebtDefined.com. The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .